Black Hills Co. (NYSE:BKH) Declares $0.65 Quarterly Dividend

by · The Cerbat Gem

Black Hills Co. (NYSE:BKH – Get Free Report) declared a quarterly dividend on Monday, October 28th, NASDAQ reports. Shareholders of record on Monday, November 18th will be given a dividend of 0.65 per share by the utilities provider on Sunday, December 1st. This represents a $2.60 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Monday, November 18th.

Black Hills has raised its dividend payment by an average of 4.8% per year over the last three years and has raised its dividend annually for the last 54 consecutive years. Black Hills has a dividend payout ratio of 63.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Black Hills to earn $4.14 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 62.8%.

Black Hills Stock Performance

Shares of BKH traded down $0.42 during mid-day trading on Tuesday, hitting $59.93. 599,926 shares of the company traded hands, compared to its average volume of 468,301. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 4.19 and a beta of 0.69. The stock has a 50-day moving average price of $60.01 and a two-hundred day moving average price of $57.11. Black Hills has a 1 year low of $47.49 and a 1 year high of $62.20. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06.

Black Hills (NYSE:BKH – Get Free Report) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Black Hills had a net margin of 12.96% and a return on equity of 8.21%. The business had revenue of $402.60 million during the quarter, compared to analyst estimates of $498.00 million. During the same period in the previous year, the business earned $0.35 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities analysts anticipate that Black Hills will post 3.9 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on BKH. Scotiabank boosted their price target on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their target price on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.00.

Read Our Latest Research Report on Black Hills

About Black Hills

(Get Free Report)

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.

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